1099 B

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1099 B

The tax statement used for reporting proceeds resulting from the sale, redemption or liquidation of shares.

1099 B

A form stating a taxpayer's capital gains and losses from security trades. A broker provides each client with a 1099 B form by January 31 each year; the client then uses this to report capital gains and losses from the sale of securities when filling out his/her 1040 to calculate his/her tax liability.
References in periodicals archive ?
government officially recognized organized barter via the Tax Equity and fiscal Responsibility Act (TEFRA) of 1982 which categorized barter exchanges as third party record keepers and mandated that all barter sales were taxable events that required the submission of 1099B forms to the IRS.
Barter income is reported to the IRS by the network through 1099B forms and is considered the same as cash income.